Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form, Application - Global Forecast to 2031
Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form, Application - Global Forecast to 2031
Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies)-Global Forecast to 2031According to the research report titled ‘Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies)-Global Forecast to 2031,’ the Nannochloropsis market is projected to reach $14.0 million by 2031, at a CAGR of 8.5% from 2024 to 2031. In terms of volume, the Nannochloropsis market is projected to reach 122 tons by 2031, at a CAGR of 9.4% during the forecast period of 2024-2031. The report provides an in-depth analysis of the Nannochloropsis market across five major geographies, current market trends, size, and recent developments, and the forecast till 2031.Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. The growth of the Nannochloropsis market is driven by the increasing demand for algal protein, the growing demand for protein-rich and lipid-rich aquafeed, and the rising demand for omega-3 fatty acids. However, the complex production process of Nannochloropsis restrains the growth of this market.Furthermore, the growing demand from the biodiesel industry is expected to offer market growth opportunities. However, the risk of Nannochloropsis contamination is a major challenge impacting the growth of the Nannochloropsis market.Key PlayersThe key players operating in the Nannochloropsis market are Proviron Industries NV (Belgium), Reed Mariculture Inc. (U.S.), Necton S.A. (Portugal), BlueBioTech Group (Germany), Allmicroalgae Natural Products S.A. (Portugal), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), A4f Algae for Future (Portugal), Green Aqua Company SGPS S.A. (Portugal), AlgaSpring B.V. (Netherlands), Archimede Ricerche S.r.l (Italy), Astaxa GmbH (Germany), and Shaivaa Algaetech LLP (India).Based on form, the Nannochloropsis market is segmented into frozen, liquid, powder, and fresh pastes. In terms of value, in 2024, the frozen segment is expected to account for the largest share of 61.5% of the Nannochloropsis market. The large market share of this segment is attributed to the higher adoption of frozen Nannochloropsis in aquafeed applications, especially in aquaculture hatcheries to establish the initial step of an artificial food chain considering its high nutritional value and rich source of fatty acids (EPA, ARA). Moreover, this segment is also projected to register the highest CAGR of 8.9% during the forecast period of 2024-2031 because frozen Nannochloropsis biomass promotes easier management in biomass production of lipid-enriched rotifers.Based on application, the Nannochloropsis market is segmented into aquafeed, extraction companies, and other applications. In 2024, the aquafeed segment is expected to account for the largest share of 72.9% of the Nannochloropsis market. The segment’s large share is attributed to the extensive use of Nannochloropsis sp. in aquaculture due to its nutritional value and ability to produce valuable chemical compounds, such as pigments (zeaxanthin, astaxanthin, and canthaxanthin) and polyunsaturated fatty acids.An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major geographies (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. In 2024, Europe is expected to account for the largest share of 35.7% of the Nannochloropsis market. Europe’s major market share is attributed to the growing aquaculture industry and need for aquafeed, increasing health awareness, rising demand for omega-3 fatty acids, and increasing demand for algae protein. Additionally, the growing demand from the biodiesel industry is expected to create lucrative opportunities for Nannochloropsis manufacturers in the region.Key Questions Answered in the Report:What is the value of revenue generated by the Nannochloropsis market?At what rate is the global demand for Nannochloropsis projected to grow for the next 5-7 years?What is the historical market size and growth rate for the Nannochloropsis market?What are the major factors impacting the growth of this market at global and regional levels?What are the major opportunities for existing players and new entrants in the market?Which form and application segments create major traction for the manufacturers in this market?What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the Nannochloropsis market?Who are the major players in the Nannochloropsis market? What are their specific product offerings in this market?What recent developments have taken place in the Nannochloropsis market? What impact have these strategic developments created on the market?Scope of the Report:Nannochloropsis Market Assessment - by FormFrozenLiquidPowderFresh PastesNannochloropsis Market Assessment - by ApplicationAquafeedExtraction CompaniesOther ApplicationsNannochloropsis Market Assessment - by GeographyNorth AmericaU.S.CanadaEuropeSpainPortugalGermanyItalyFranceU.K.DenmarkSwedenRest of EuropeAsia-PacificChinaJapanIndiaAustraliaRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East and AfricaEgyptSaudi ArabiaSouth AfricaUAERest of Middle East & Africa